Billionaire to pay off $40M student loans of graduating class

  • 📰 inquirerdotnet
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 86%

Education Education Headlines News

Education Education Latest News,Education Education Headlines

Robert Smith said he expected the recipients to “pay it forward” and said he hoped that “every class has the same opportunity going forward.”

Smith, who received an honorary doctorate from Morehouse during the ceremony, had already announced a $1.5 million gift to the school. The student debt for the class of 2019 is estimated to be as much as $40 million though no immediate total had been calculated yet.

“Because we are enough to take care of our own community,” Smith said. “We are enough to ensure that we have all the opportunities of the American dream. And we will show it to each other through our actions and through our words and through our deeds.” His mother, Tina Mitchom, was also shocked. Eight family members, including Mitchom’s 76-year-old grandmother, took turns over four years co-signing on the loans that got him across the finish line.“It takes a village,” she said. “It now means he can start paying it forward and start closing this gap a lot sooner, giving back to the college and thinking about a succession plan” for his younger siblings.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in EDUCATİON

Education Education Latest News, Education Education Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Morehouse College grads are surprised by a billionaire's promise to pay off their student loansMorehouse College seniors got a surprise Sunday when billionaire investor Robert F. Smith announced during his commencement speech that he would pay off the student loan debt for the historically black college's graduating class.
Source: CNN Philippines - 🏆 13. / 63 Read more »

Billionaire to grads at U.S. black college: I'll pay off your student loansRobert F. Smith, an African-American businessman tells the new graduating class of historically black Morehouse College that he plans to pay off the entirety of their student debt: an estimated $40 million. WorldNews
Source: rapplerdotcom - 🏆 4. / 86 Read more »